Power Distribution Automation Market to Grow at CAGR of over 7%
Increasing demand for renewable power generation coupled with favorable government initiatives to promote renewable power to accelerate global power distribution automation market through 2024 According to a recent report published by TechSci research on “Global Power Distribution Automation System Market By Component, By Utility, By Region, By Company, Competition, Forecast & Opportunities, 2024”, global power distribution automation market is projected to grow at a CAGR of over 7% until 2024, on the back of increasing renewable power generation and increasing electricity demand. Moreover, the market for power distribution automation is further aided by the rising need for energy efficiency, protection and immediate fault detection in the power distribution network. By utility, the public utility category accounted for the largest share of the power distribution automation market in 2018 and it is projected to remain as the largest category throughout...